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Starbucks SBUX Channel Development — Store operating expenses

Other segment segments

North America
$3.79B+6.7%
International
$408.1M-48.5%
Corporate and Other
$0

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Other financials

Income statement

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Revenue$9.3B-1.4%
Operating income$980.4M+4.8%
Net income$1.0B+87.2%
EPS (diluted)$0.91+85.7%

Balance sheet

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Cash & equivalents$3.4B-17.3%
Total debt$22.4B-19.6%
Total equity-$7.7B+0.2%
Total assets$28.3B-15.9%

Cash flow

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Operating cash flow$1.6B+63.9%
CapEx$291.4M-48.6%
Free cash flow$1.4B+211%

Valuation

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Market cap$119.88B+18.5%
Enterprise value$138.87B+11.2%
P/E60.5×+22.0×
P/S3.1×+0.4×

Profitability

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Gross margin72.3%
Operating margin7.8%-3.0pp
Net margin5.2%-2.0pp
FCF margin9.5%

Returns & leverage

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Return on equity136.5%
Debt / equity7.8×
Current ratio0.8×0.0×

Where this comes from

Reported directly by Starbucks in its filing.

Tagged under the XBRL concept sbux:StoreOperatingExpenses.

The source filing: Starbucks’s 10-Q, filed July 29, 2026.

Filed
Jul 29, 2026, 5:17 PM EDT
Fiscal quarter
Q3 FY2026
Calendar quarter
Q2 2026
Accession
0000829224-26-000130
Quarter Ended / June 28, 2026North AmericaInternationalChannel DevelopmentCorporate and OtherTotal
Total net revenues$7,395.1$1,322.6$587.9$17.1$9,322.7
Product and distribution costs1,971.9513.4320.922.42,828.6
Store operating expenses3,789.3408.14,197.4
Other operating expenses56.557.816.01.6131.9
Depreciation and amortization expenses298.333.130.2361.6
General and administrative expenses95.939.10.8463.0598.8
Restructuring and impairments174.341.1(0.2)87.4302.6
Total operating expenses6,386.21,092.6337.5604.68,420.9

Item 1.Financial Statements

FAQ

What is Starbucks's channel development — store operating expenses?
Starbucks (SBUX) reported channel development — store operating expenses of $0 in Q2 2026.
What does channel development — store operating expenses mean?
This captures the operating costs specifically attributable to the retail-facing aspects of the Channel Development segment. It includes labor, occupancy, and maintenance costs for any physical retail presence or branded kiosks managed within this segment.

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